York Water (NASDAQ:YORW) Lifted to Hold at Zacks Investment Research

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York Water (NASDAQ:YORW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Sunday, Zacks.com reports.

According to Zacks, “The York Water Company impounds, purifies and distributes water. They are regulated by the Pennsylvania Public Utility Commission in the areas of billing, payment procedures, dispute processing, terminations, service territory, and rate setting. They must obtain PPUC approval before changing any of the aforementioned procedures. “

YORW has been the subject of a number of other research reports. Janney Montgomery Scott cut shares of Avid Bioservices from a “buy” rating to a “neutral” rating and cut their price objective for the company from $10.00 to $5.00 in a research note on Thursday, May 9th. BidaskClub raised shares of Zai Lab from a “sell” rating to a “hold” rating in a research note on Wednesday, June 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $37.00.

YORW stock opened at $35.50 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.74. York Water has a one year low of $28.95 and a one year high of $36.86. The stock has a market cap of $459.94 million, a PE ratio of 34.13 and a beta of 0.23. The business has a 50 day moving average of $35.26.

York Water (NASDAQ:YORW) last released its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). York Water had a return on equity of 10.88% and a net margin of 27.96%. The company had revenue of $11.83 million during the quarter, compared to analysts’ expectations of $12.00 million. On average, sell-side analysts forecast that York Water will post 1.1 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in YORW. Rhumbline Advisers grew its stake in York Water by 47.0% in the 4th quarter. Rhumbline Advisers now owns 16,998 shares of the utilities provider’s stock valued at $545,000 after buying an additional 5,432 shares during the last quarter. BlackRock Inc. grew its stake in York Water by 0.6% in the 4th quarter. BlackRock Inc. now owns 766,417 shares of the utilities provider’s stock valued at $24,570,000 after buying an additional 4,641 shares during the last quarter. Advisor Group Inc. grew its position in shares of York Water by 103.8% during the 4th quarter. Advisor Group Inc. now owns 954 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 486 shares in the last quarter. Citigroup Inc. grew its position in shares of York Water by 14.5% during the 4th quarter. Citigroup Inc. now owns 4,527 shares of the utilities provider’s stock worth $145,000 after purchasing an additional 574 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of York Water by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 441,459 shares of the utilities provider’s stock worth $14,153,000 after purchasing an additional 2,535 shares in the last quarter. 36.99% of the stock is owned by institutional investors.

About York Water

The York Water Company impounds, purifies, and distributes drinking water. It also owns and operates three wastewater collection systems and two wastewater treatment systems; and two reservoirs, including Lake Williams and Lake Redman, which hold approximately 2.2 billion gallons of water. In addition, the company has a 15-mile pipeline from the Susquehanna River to Lake Redman; and owns seven wells that supply water to its customers in Carroll Valley Borough and Cumberland Township, Adams County.

Further Reading: Resistance Level

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